Soybean Meal Market is Booming and Predicted to Hit $94.2 billion by 2031, at 4.9% CAGR

Soybean Meal Market by Nature (Organic, Conventional), by Application (Food Industry, Animal Feed Industry, Pharmaceutical), by Sales Channel (Online, Offline, B2B): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global soybean meal industry generated $59.2 billion in 2021, and is anticipated to generate $94.2 billion by 2031, witnessing a CAGR of 4.9% from 2022 to 2031.

𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐅𝐨𝐫 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/5304

The best source of additional protein for swine diets is traditionally thought to be soybean meal. In fact, as soybean meal is frequently used as the standard when comparing other protein sources, it is commonly referred to as the "gold standard." Around 63% of all protein sources used in animal diets worldwide come from soybean meal, followed by rapeseed (canola) meal, cottonseed meal, sunflower meal, fish meal, and peanut meal. In contrast, soybean meal makes up over 92% of all oilseed meals fed to livestock and poultry in the USA. This soybean meal is used in poultry feeds around 53% of the time, swine feeds 27%, cattle feeds 14%, and pet foods, fish feeds, and other feeds 6%.

Leading Key Players

The major key players profiled in the soybean meal market include Mahesh Agro Food Industries, Louis Dreyfus Company B.V., Bunge Limited, Mamta Hygiene Products Pvt. Ltd., Nordic Soya Ltd., Mukwano Industries Uganda Ltd., Gujarat Ambuja Exports Limited, AdamPolSoya, Wudi Deda Agriculture Co. Ltd., Agrocorp International Pte Ltd, Shafer Commodities Inc., Denofa AS, Kohinoor Feeds and Fats Ltd., Minnesota Soybean Processors, Granol Indstria Comrcio e Exportao S/A, DHN International, Gauri Agrotech Products Pvt. Ltd., The Scoular Company, CHS Inc., and Kemin Industries, Inc.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/checkout-final/738b62b969c72149d991f40fb0a2359d

Based on sales channel, the offline segment accounted for the largest share in 2021, contributing to nearly three-fifths of the global soybean meal market, and is projected to maintain its lead position during the forecast period. Soybean meal sales conducted offline have several benefits, including the option to purchase and exchange things at retail locations swiftly. However, the online segment is expected to portray the largest CAGR of 5.3% from 2022 to 2031. The rise in offers or discounts and the increased accessibility of numerous online portals in developing countries encourage consumers to buy soybean meal products online.

By application, the food industry segment is anticipated to grow at the highest growth rate during soybean meal market foreacst period. Due to its unique properties, such as its improved solubility in food items and resistance to meat products, soy meal is in great demand in the food business. The growing demand for vegetarian foods and confections in developed nations is one of the key forces behind the rise of soybean meal utilization in the food industry. This is one of the soybean meal market trends.

Based on sales channel, the offline contributed the maximum share in the soybean meal industry in 2021. Offline sales of soybean meal provide a number of advantages, such as the ability to easily buy and exchange products at retail establishments. Customers can also visit these stores to choose from a wide variety of soybean meals with the assistance of extremely educated salespeople who can help them choose the right item based on their needs.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/5304

In 2021, based on region, Asia-Pacific is the leading segment in the soybean meal market forecast. Since Asia-Pacific is an excellent location for acquiring raw materials and supplying protein byproducts, prominent companies are preparing to relocate there. This is especially true for supplement manufacturing given the region's high soy output.

Based on nature, the conventional segment held the highest market share in 2021, accounting for more than two-thirds of the global soybean meal market, and is estimated to maintain its leadership status throughout the forecast period. The proportion of proteins and vitamins in conventionally produced soybean meals is sufficient for children, adults, and animal feed. In addition, traditionally produced soybean meal products are effective health-improving elements, also these products have long-lasting effects. However, the organic segment is projected to manifest the highest CAGR of 5.3% from 2022 to 2031 due to growing concerns regarding the environment, sustainability, and healthy food.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/5304

KEY FINDINGS OF THE STUDY

By nature, the conventional segment was the highest revenue contributor to the soybean meal market, with $41,656.7 million in 2021, and is estimated to reach $65,165.0 million by 2031, with a CAGR of 4.7%.

Depending on application, the animal feed industry segment was the highest revenue contributor to the market, with $27,435.0 million in 2021, and is estimated to reach $43,196.8 million by 2031, with a CAGR of 4.8%.

As per sales channel, the offline segment was the highest revenue contributor to the market, with $32,834.2 million in 2021, and is estimated to reach $51,461.3 million by 2031, with a CAGR of 4.8%.

Region wise, Asia-Pacific was the highest revenue contributor, accounting for $22,676.1 million in 2021, and is estimated to reach $35,306.3 million by 2031, with a CAGR of 4.7%.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Textured Soy Protein Market - https://www.globenewswire.com/en/news-release/2020/05/14/2033654/0/en/Global-Textured-Soy-Protein-Market-to-Reach-2-1-Billion-by-2026-Allied-Market-Research.html

Nutraceutical Ingredients Market - https://www.prnewswire.com/news-releases/nutraceutical-ingredients-market-to-garner-327-3-billion-at-a-cagr-of-7-3-by-2031-allied-market-research-301986885.html#:~:text=As%20per%20the%20report%2C%20the,during%20the%202022%2D2031%20period.

Herbal Nutraceuticals Market - https://www.alliedmarketresearch.com/herbal-nutraceuticals-market-A06743

Soy Protein Isolate Market - https://www.alliedmarketresearch.com/soy-protein-isolate-market-A17386

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